Accounts For Minors
Having and using bank accounts helps build financial literacy, so we do not charge maintenance fees on accounts for minors. Parents may co-own the account with the child, which helps provide hands-on tools to learn money management.
Student checking accounts are generally made available for high school students. They are issued a check card. This is NOT a credit card. It works like a check, but has fraud protection. If it is lost or stolen, it can be replaced, unlike cash. Daily spending limits can be set, as well as balance alerts and other messages to advise the teen and the parent of activity or low balances on the account. Employed teens can have paychecks deposited directly to their account. Parents can manage allowances by setting up recurring transfers from their account to the teen’s account.
An online check register is available to help teens keep track of their spending. (click here)